Plus, nordstrom and Dicks Sporting Goods both surging in the premarket as the Consumer Sector coming off what was its best day in nearly two weeks and teslas second largest shareholder suggesting elon musk should step down as ceo. We have details. Central bankers and economists from around the world are gathering at the kansas city feds annual symposium in Jackson Hole Investors bracing for tomorrows speech by fed chair powell among the president s repeated calls for additional rate cuts some big live interviews coming up today and tomorrow from the summit our Steve Liesman will have harker in about an hour. Hes got bullard tomorrow. But we know what the minutes did to odds of a 50basis point cut yesterday. Yeah, everyone is a little talking at different moments here you have the president saying things, the economy is fantastic, which is why we need to cut rates but now hes focused on germany. You have the fed focused on the data and a little more torn. The fed is clearly thinking abo
The latest phil melissa, not surprisingly boeing will take a big hit when it comes to the q2 earnings that it reports next week lets run down the numbers the Company Announced within the last half hour it is taking a 4. 9 billion after tax charge that works out to 8. 74 a share. Thats for the Second Quarter. Essentially it comes down to the 737 max, they say it is due to concessions and considerations theyre going to be needing to make to customers, not only those they made in the Second Quarter but extending over the next couple of years revenue and pretax earnings are going to drop by 5. 6 billion in the Second Quarter or theyre going to be reduced by that much in the Second Quarter. Production costs in the Second Quarter, up an estimated 1. 7 billion, but we should point out that is accounted for over the life of the program so it is going to be extended out over many years since they have more than 4,000 737 maxes on order the assumption from boeing at this point is that the airpla
Im Francine Lacqua here in london. We saw a huge plunge in the markets overnight in the u. S. We saw quite a lot of pressure on the nikkei. 1. 6 . 600 now down i will show you a chart of the stoxx 600 in a second, you will 3 , downit was down 4 , and now it is kind of stabilizing at down 1. 6 . 37 can see the vix index. 32, now we have not seen that level for a while. Eems to be finding we focus on the selloff with the chief Investment Officer. We discuss oil prices in our interview with the ceo of bp. We talked the vixs historic spike. We focus on the markets, we also have quite a lot more throughout the program. Lets get straight to the bloomberg first alert news. Heres Juliette Saly in singapore. Juliette the president of the minneapolis fed says he does not think a financial crisis is imminent despite the turmoil. He made the comments in an exclusive interview with bloomberg. If they are pricing in a lower young term yield, that could be leading to higher valuations. I dont see a f
President. Blake berman in dc with the latest. Blake. Good afternoon to you. President obama speaking from the white house earlier today. Excited pope francis when he said tackling Climate Change is a moral obligation. The result here, new rule from the Environment Protection agency. It is called the clean power plan. The highlight of it all from the president the reduction in Carbon Emissions by 2020. So. No. 15 years. On to. Of the carbon, there will be several other benefits to this, the new plan will create tens of thousands of jobs, make americans healthier, they site reduction in heart and asthma attacks and they say this will lead to Cheaper Energy bills down the line. Thefts president speaking earlier today. The kinds of criticisms that youre going to hear are simply excuses for inaction. Theyre not even Good Business sense. They under estimate American Business and american engin enginity. And the House Speaker for one is calling this a nasty energy tax. Quote i believe this f
Damage was to homes without flood insurance. Meanwhile, Officials Say one person has died on guadalupe after being hit by a falling tree. It is the first death attributed to the category 5 hurricane maria. Two people are missing after their boat sank. About 40 of the island is without power. A mexican state governor says at least 42 people are dead after a powerful earthquake struck near mexico city. It is mexicos second major earthquake this month. President enrique pena nieto, who attended the uns General Assembly in new york is , returning immediately. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Chandra. Emily im emily chang, and this is bloomberg technology. Coming up, Higher Learning courtesy of udacity. They just kicked off of their introduced introduction to self driving cars, there nano degree program. We will hear from the founder. Plus, twitters direct message on terror. The company flagged 300,000 accounts that i